AMD Is My Top Tech Stock Buy Right Now
2022 has been an ugly year for tech stocks, even for those companies that are fast-growing and profitable. The market has become hyper-focused on valuations, and the growing risk of a recession. The U.S. Federal Reserve's aggressive interest rate posturing has ensured that anxiety runs high right now.
Advanced Micro Devices (NASDAQ: AMD) is a gem in the semiconductor industry and one of the stocks that is being wrongfully taken out with the garbage. Not only is this a fast-growing business, but the company is also profitable and those profit margins are rising. If you can stomach the current turbulence and plan on holding for at least a few years, this is a top tech stock to consider buying right now. Here's why it tops my list.
Long considered the second fiddle to Intel (NASDAQ: INTC), AMD's suite of semiconductors has been building momentum for over a decade now. The company made some hard decisions during the Great Recession of 2008-09. Instead of limping along with an integrated chip design and manufacturing business model, AMD decided to offload its fab segment (it became the company now known as GlobalFoundries) and go all-in on design work.
Source Fool.com
